Grande Property team of international experts is closely monitoring the updates on immigration programs being offered to our clients worldwide and is pleased to let you know about further program cost reduction of the longest standing CBI, St Kitts and Nevis.
The government of St KItts and Nevis has recently announced the establishment of a new fund called the Sustainable Growth Fund that will allow to make the country’s citizenship by investment program even more reasonably priced than ever before.
Does St Kitts and Nevis extend the previous discounted passport?
New initiative, introduced earlier in March, is replacing the Hurricane Relief Fund (HRF) that was the temprorary option available through the end of March 2018.
Investment amount to qualify for economic citizenship under the Sustainable Growth Fund government program remains unchanged for sole applicant, US$150,000, while applying as a family of four is now reduced to US$195,000 only, making the program more competitve compared to existing government option under Sugar Industry Diversification Foundation.
Prime Minister Dr Timothy Harris recently said that the Sustainable Growth Fund will benefit all residents of the twin-island country and further said that investment levels for the new Fund is both “attractive and sustainable.”
He also remarked that the proceeds received from the Fund will be shared among many sectors including education, healthcare and tourism.
Prime Minister Harris discussed new opportunities to travel freely with the country’s passport. India, Russia and Indonesia have signed new visa free travel agreements with the country making its passport even more valuable. Investors who hold a St Kitts and Nevis passport are currently benefiiting from visa-free entry to more than 140 countries, including the United Kingdom, Germany, Austria, Singapore, and South Korea.
As indicated by the CEO of the St Kitts and Nevis Citizenship by Investment Unit, Les Khan, many candidates would find investment in the Sustainable Growth Fund very appealing.
The Sustainable Growth Fund is not just about sustaining development for our nation, it is also about providing a strong investment opportunity for our potential economic citizens. The program allows applicants and their families to secure their future in the same way the Fund operates to enhance the quality of living for our citizens on the islands.
In the course of recent months, the Citizenship by Investment Program of St Kitts and Nevis has received honors, such as the , ‘World’s Most Innovative Investment Immigration Program‘ at the Global Citizen Awards Ceremony. It also has the best positioning in the 2018 Passport Index among other Caribbean programs.
Citizenship by investment application processing under The Sustainable Growth Fund program officially started on April 2.
Changes in the St Kitts and Nevis CBI program include real estate investment alternatives
Prime Minister Harris also announced additional changes in the real estate investment program.
In order to attract luxury resort developments there is now being proposed another option where real estate offering that requires a US$400,000 investment may attract two applicants at US$200,000 each plus government fees, but this can only be resold after 7 years,” the Finance Minister said. He added that they “have given favourable consideration to the recommendation by real estate developers for existing developments to qualify for inclusion in the new option.”
The new real estate investment alternative won’t replace the current choice. An individual investor may still contribute US$400,000, including US$75,000 in government expenses, in a government approved investment which can then be re-marketed after a five year holding period.
In response to the recent real estate CBI option pricing policy change, starting from April 2018 GrandeProperty welcomes investors to benefit from the updated investment offering with Fisherman’s Cabanas luxury resort development. Minimum investment amount for the single applicant has been reduced down to US$200,000 (additional charges apply) with 7 year obligatory holding period having been implemented. Contact one of Grande Property offices either in USA, China or India to receive all the project investment details.